Finance
In Mississippi, a 'forbearance agreement' allows a homeowner who has fallen behind on mortgage payments to:
AHave their debt permanently reduced
BTemporarily reduce or suspend payments with the agreement to repay missed amounts later✓ Correct
CTransfer the mortgage to another borrower
DSell the home without repaying the mortgage
Explanation
A forbearance agreement allows a distressed borrower to temporarily reduce or suspend mortgage payments for a defined period (typically due to hardship). The missed payments must be repaid—either in a lump sum, added to the end of the loan, or through a payment plan.
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